Chow quotients of ${\mathbb C}^*$-actions on convex varieties

In this paper we study the Chow quotient ${\mathcal C}X$ of a convex variety $X$ of Picard number one by the action of a one dimensional torus having no non-trivial finite isotropy. Examples of these actions can be found in the rational homogeneous framework. We prove that the subvariety of ${\mathc